2.4.0.8101800 - Disclosure - Fair Value measurementstruefalsefalse1falsefalsefalsefyp0dhttp://www.sec.gov/CIK0001386716duration2013-01-01T00:00:002013-06-30T00:00:001true1us-gaap_FairValueDisclosuresAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false2us-gaap_FairValueDisclosuresTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>15.      Fair value measurements:</b></font></div>
<div style="text-align:justify;margin-left: 66.2px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-left: 66.2px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">ASC 815, "Derivatives and Hedging" requires companies to recognize all derivative instruments as either assets or liabilities at fair value in the statement of financial position.</font></div>
<div style="text-align:justify;margin-left: 66.2px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Company recognizes all derivative instruments as either assets or liabilities at fair value on its consolidated balance sheets.</font></div>
<div style="text-align:justify;margin-left: 66.2px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Changes in the fair value of derivative instruments that have not been designated as hedging instruments are reported in the accompanying unaudited interim condensed consolidated statements of operations.</font></div>
<div style="text-align:justify;margin-left: 66.2px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b><u>Fair value on a recurring basis</u></b></font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div>
<div style="text-align:justify;margin-left: 85.1px;text-indent:-37.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>15.1      Freight derivatives and bunker derivatives:</b></font></div>
<div style="text-align:justify;margin-left: 85.1px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The Company trades in the freight derivatives (FFAs and freight options) and bunker derivatives markets with an objective to utilize those instruments as economic hedge instruments that can be highly effective in reducing the risk on specific vessels trading in the spot market and to take advantage of short term fluctuations in the market prices. Freight derivatives and bunker derivatives trading do not qualify for cash flow hedges for accounting purposes, therefore resulting gains or losses are recognized in the accompanying unaudited interim condensed consolidated statements of operations. For the six month periods ended June 30, 2012 and 2013, gain on freight derivatives contracts was $64 and $0, respectively. For the six month periods ended June 30, 2012 and 2013 nil gain or loss was recognized on bunker derivatives since during the respective periods the Company did not enter into any bunker derivatives contracts.</font></div>
<div style="text-align:justify;margin-left: 85.1px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 85.3px;pt;border-collapse: collapse; border: none">
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<td valign="bottom" style=" border:solid #000000 0.0px;width:320px;height:27px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="5" style=" border:solid #000000 0.0px;width:239px;background-color:#ffffff"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Six month period ended<br/> June 30,</b></font></div></td>
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<td valign="bottom" style=" border:solid #000000 0.0px;width:320px;height:15px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:26px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:84px;background-color:#ffffff"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2012</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:26px;background-color:#ffffff"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:84px;background-color:#ffffff"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>2013</b></font></div></td>
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<td valign="bottom" style=" border:solid #000000 0.0px;width:320px;height:15px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:26px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:26px;background-color:#ffffff"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:84px;background-color:#ffffff"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
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<td valign="bottom" style=" border:solid #000000 0.0px;width:320px;height:15px;background-color:#ccffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Freight Derivatives</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ccffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:26px;background-color:#ccffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:84px;background-color:#ccffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">64</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ccffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:26px;background-color:#ccffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:84px;background-color:#ccffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:320px;height:15px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Interest rate swaps</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:26px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:84px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:26px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:84px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">438</font></div></td>
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<td valign="bottom" style=" border:solid #000000 0.0px;width:320px;height:15px;background-color:#ccffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ccffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:26px;background-color:#ccffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:84px;background-color:#ccffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>64</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ccffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:26px;background-color:#ccffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:84px;background-color:#ccffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>438</b></font></div></td>
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<tr>
<td style="width:320px;"></td>
<td style="width:18px;"></td>
<td style="width:26px;"></td>
<td style="width:84px;"></td>
<td style="width:17px;"></td>
<td style="width:26px;"></td>
<td style="width:84px;"></td>
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</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-left: 85.1px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of December 31, 2012 and June 30, 2013, no fair value measurement for assets or liabilities were recognized in the Company's unaudited interim condensed consolidated financial statements, since the Company had no open positions on freight and bunker derivatives.</font></div>
<div style="text-align:justify;margin-left: 85.1px;text-indent:-37.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div>
<div style="text-align:justify;margin-left: 85.1px;text-indent:-37.3px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>15.2      Interest rate swaps</b></font></div>
<div style="text-align:justify;margin-left: 85.1px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">During the six month period ended June 30, 2013, the company entered into two interest rate swap transactions to manage interest costs and risk associated with changing interest rates with respect to its variable interest loans and credit facilities. The Company's interest rate swaps did not qualify for hedge accounting and therefore resulting gains or losses are recognized in the accompanying unaudited interim condensed consolidated statements of operations. As of June 30, 2013, the Company had outstanding two interest rate swap agreements of $26,840 and $28,628 notional amount, maturing in August and in November of 2018, respectively. The change in the fair market value of the respective agreements for the six month period ended June 30, 2013, resulted in a gain of $438 and is included in "Gain on derivative instruments” in the accompanying unaudited interim condensed consolidated statement of operations.</font></div>
<div style="margin-left: 85.1px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-left: 85.1px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The guidance for fair value measurements applies to all assets and liabilities that are being measured and reported on a fair value basis. This guidance enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. The statement requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories:</font></div>
<div style="text-align:justify;margin-left: 85.1px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><u>Level 1:</u> Quoted market prices in active markets for identical assets or liabilities</font></div>
<div style="text-align:justify;margin-left: 85.1px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><u>Level 2:</u> Observable market-based inputs or unobservable inputs that are corroborated by market data</font></div>
<div style="text-align:justify;margin-left: 85.1px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><u>Level 3:</u> Unobservable inputs that are not corroborated by market data</font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-left: 85.1px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The following table summarizes the valuation of the Company's financial instruments as of December 31, 2012 and June 30, 2013.</font></div>
<div style="text-align:justify;margin-left: 85.1px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-indent:0.0px;"></div>
<table border="0" cellspacing="0" cellpadding="0" style=" margin-left: 84.0px;pt;border-collapse: collapse; border: none">
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<td valign="bottom" style=" border:solid #000000 0.0px;width:300px;height:30px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" colspan="5" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:260px;background-color:#ffffff"><div style="text-align:center;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Significant Other Observable Inputs <br/>(Level 2)</b></font></div></td>
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<td valign="bottom" style=" border:solid #000000 0.0px;width:300px;height:26px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:100px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>December 31,<br/>2012</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:100px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>June 30,<br/>2013</b></font></div></td>
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<td valign="bottom" style=" border:solid #000000 0.0px;width:300px;height:15px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:100px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:21px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:100px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b> </b></font></div></td>
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<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:300px;height:15px;background-color:#ccffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">Interest rate swaps - asset position</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ccffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;background-color:#ccffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:100px;background-color:#ccffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">-</font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ccffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:21px;background-color:#ccffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">$</font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:solid #000000 1.0px;width:100px;background-color:#ccffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">438</font></div></td>
</tr>
<tr>
<td valign="bottom" style=" border:solid #000000 0.0px;width:300px;height:15px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>Total</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:18px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:100px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>0</b></font></div></td>
<td valign="bottom" style=" border:solid #000000 0.0px;width:17px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:21px;background-color:#ffffff"><div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>$</b></font></div></td>
<td valign="bottom" style=" border-left:solid #000000 0.0px; border-top:solid #000000 0.0px; border-right:solid #000000 0.0px; border-bottom:double #000000 3.0px;width:100px;background-color:#ffffff"><div style="text-align:right;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "><b>438</b></font></div></td>
</tr>
<tr>
<td style="width:300px;"></td>
<td style="width:18px;"></td>
<td style="width:21px;"></td>
<td style="width:100px;"></td>
<td style="width:17px;"></td>
<td style="width:21px;"></td>
<td style="width:100px;"></td>
</tr>
</table>
<div align="justify"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; "> </font></div>
<div style="text-align:justify;margin-left: 85.1px;text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">As of December 31, 2012 and June 30, 2013, no fair value measurements for assets or liabilities under Level 1 or Level 3 were recognized in the Company's consolidated balance sheets. </font></div>
<div style="text-indent:0.0px;"><font style="font-family:Times New Roman;font-size:13.3px;color:#000000; ">The carrying values of temporary cash investments, restricted cash, accounts receivable and accounts payable approximate their fair value due to the short-term nature of these financial instruments. The fair value of long-term bank loans and non-current restricted cash balances, bearing interest at variable interest rates, approximate their recorded values as of June 30, 2013.</font></div>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
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